EFG International AG Makes New $4.99 Million Investment in Acushnet $GOLF

EFG International AG acquired a new stake in Acushnet (NYSE:GOLF) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 42,157 shares of the company’s stock, valued at approximately $4,994,000.

Other large investors also recently modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of Acushnet during the 2nd quarter worth approximately $204,000. Legal & General Group Plc acquired a new stake in Acushnet in the 2nd quarter valued at $7,997,000. The Manufacturers Life Insurance Company bought a new stake in Acushnet in the second quarter valued at $1,723,000. Van Hulzen Asset Management LLC bought a new stake in Acushnet in the second quarter valued at $1,344,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in Acushnet during the second quarter worth $45,290,194,000. 53.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Acushnet

In other news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 53.30% of the company’s stock.

Acushnet Price Performance

Shares of GOLF stock opened at $86.33 on Wednesday. Acushnet has a 52 week low of $73.09 and a 52 week high of $119.65. The stock has a market capitalization of $5.04 billion, a PE ratio of 23.52 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. The stock’s fifty day moving average is $104.30 and its 200-day moving average is $98.10.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. The business had revenue of $819.95 million during the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. Equities research analysts expect that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s payout ratio is currently 27.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GOLF shares. Weiss Ratings raised Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Truist Financial lifted their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Roth Capital reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.17.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.